The vast majority of buy-side fixed-income traders and portfolio managers (PMs) use an order management system (OMS). While solutions providers work hard to enhance their platforms based on user demand, what buy-side professionals want and what they actually get doesn’t always align.
In an effort to better understand the current fixed-income OMS technology landscape, Crisil Coalition Greenwich conducted two studies. The first focuses on user demands and represents the opinions of 57 buy-side professionals by capturing their views on OMSs and technology needs. The second, our OMS Core Platform Solutions vendor benchmarking study, examines the capabilities of 14 OMS providers. We use a proprietary framework to analyze important characteristics of these platforms according to asset class specificity, technology and functionality. This report provides an overview of findings and compares what features users demand and how that stacks up against existing OMS fixed-income capabilities.
MethodologyOMS Core Platform Solutions is a proprietary peer-benchmarking assessment of OMS offerings in four asset classes: equities, fixed income, FX, and cryptocurrency. The research compares (1) how much asset class-related functionality each vendor offers overall and (2) how much of that functionality is delivered in the vendor’s core (base) platform license. Vendor scoring is presented alongside peer-group statistics for relative positioning. Cost modelling, integration, R&D pipeline, DR planning, and coverage models are explored.
Further, over 50 end users in the U.S., Europe and Asia were interviewed between June 2025 and March 2026 to gain perspectives concerning the quality of the offering, client experience, challenges, and developments.